AP Business SummaryBrief at 10:33 p.m. EDT

5 takeaways from Twitter whistleblower Peiter Zatko

SAN FRANCISCO (AP) — Startling new revelations from Twitter’s former head of security, Peiter Zatko, have raised serious questions about the security of the platform’s service, its ability to identify and remove fake accounts, and the truthfulness of its statements to users, shareholders and federal regulators. In a whistleblower complaint made public Tuesday, Zatko documented what he described as his uphill 14-month effort to bolster Twitter security, boost...

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5 takeaways from Twitter whistleblower Peiter Zatko

SAN FRANCISCO (AP) — Startling new revelations from Twitter’s former head of security, Peiter Zatko, have raised serious questions about the security of the platform’s service, its ability to identify and remove fake accounts, and the truthfulness of its statements to users, shareholders and federal regulators. In a whistleblower complaint made public Tuesday, Zatko documented what he described as his uphill 14-month effort to bolster Twitter security, boost the reliability of its service, repel intrusions by agents of foreign governments and both measure and take action against fake “bot” accounts that spammed the platform.

Student loan forgiveness could help more than 40 million

WASHINGTON (AP) — More than 40 million Americans could see their student loan debt reduced — and in many cases eliminated — under President Joe Biden’s long-awaited forgiveness plan. Biden’s announcement Wednesday was a historic but politically divisive move in the run-up to the midterm elections. Fulfilling a campaign promise, Biden is moving to erase $10,000 in federal student loan debt for those with incomes below $125,000 a year, or households that earn less than $250,000. He’s canceling an additional $10,000 for those who received federal Pell Grants to attend college. It’s seen as an unprecedented attempt to stem the tide of America’s rapidly rising student debt. But it also faces nearly certain legal challenges.

What’s a Pell grant? How it affects student loan forgiveness

New York (AP) — President Joe Biden’s student loan forgiveness program announced on Wednesday aims to provide $10,000 in student debt cancellation for millions of Americans. But for federal Pell grant recipients, that amount is $20,000. Pell grants were created by the Higher Education Act in 1965 as a way to promote access to education. These scholarships are reserved for undergraduates and certain other students with the most significant financial need. According to the Department of Education, the Biden administration is targeting Pell grant recipients with additional loan forgiveness “to smooth the transition back to repayment and help borrowers at highest risk of delinquencies or default once payments resume.”

Biden’s student loan plan: What we know (and what we don’t)

NEW YORK (AP) — President Joe Biden says many Americans will be able to have up to $10,000 in federal student loan debt forgiven in they make less than $125,000 a year. People who went to college on Pell grants can have up to $20,000 forgiven. Biden also says a pause on student loan payments will be extended until Dec. 31. Interest rates will remain at 0% until repayments start. Under an earlier extension announced in April, people who were behind on payments before the pandemic will automatically be put in good standing.

Who gets student loan forgiveness? Relief prompts joy, angst

For the millions whose entire student debt is being wiped out, the Biden administration’s announcement on forgiveness means new freedom to move, start a family or keep a low-paying but fulfilling job. But for many others, the long-awaited plan brings bitterness and frustration. Many student loan borrowers feel left out, perhaps because they didn’t qualify for federal loans and had to rely on private loans, which won’t be forgiven. Other Americans resent the break current debtors will receive because they had already paid off their debts, or worked to avoid college loans, or oppose the move on philosophical grounds.

‘Pre-bunking’ shows promise in fight against misinformation

Google and a team of university researchers have hit on what they say could be an effective way to make people more impervious to the harmful impact of online misinformation. In experiments, the researchers showed people videos that explain how things like emotionally charged language or false comparisons can help persuade people to believe false claims. The people who saw the videos were later tested and found to be better able to distinguish false claims from accurate information. It’s an approach called pre-bunking, and university researchers and Google say it holds promise as a relatively easy and effective way to bolster critical thinking and make people more able to resist misinformation.

Asian stocks mostly higher as markets await Fed chair speech

TOKYO (AP) — Asian shares are trading mostly higher as global markets wait for a highly anticipated speech from the U.S. Federal Reserve chair about interest rates at the end of the week. Benchmarks rose in Japan, Australia and South Korea. Trading was delayed in Hong Kong for a storm. Shanghai shares were little changed. Market watchers say share prices were likely to sway for some time, regardless of whether the focus was on controlling inflation or recession risks. In Asia, a mood of wait and see has set in over the recent sessions. The chair of the Federal Reserve gives a speech Friday.

Amazon to shutter virtual health care service Amazon Care

NEW YORK (AP) — Amazon is shutting down the hybrid virtual, in-home care service it’s spent years developing. It’s a surprising move that underscores the challenges Amazon faces as it moves into health care. Neil Lindsay, senior vice president of Amazon Health Services, said in an email sent to staff that Amazon Care will end by Dec. 31. Amazon Care launched in 2019 for Seattle-based Amazon’s Washington state employees. That served as a testing ground for Amazon care before the company rolled it out nationally last year to include workers in all 50 states. It is also offered to private employers nationwide. Lindsay said the company determined it wasn’t the right long-term solution for customers.

Peloton to sell its bikes on Amazon in bid to reverse slump

NEW YORK (AP) — Peloton’s high-end exercise bikes and other gear will now be able to be bought on Amazon in the U.S. It’s a partnership aimed at boosting the fitness company’s sales that have languished since the easing of pandemic lockdowns. The collaboration is Peloton’s first with another retailer. Before, its products were sold exclusively through its website, physical showrooms and other channels. And it comes after the company earlier this month said it was shedding jobs, shifting its delivery work to third-party vendors and significantly reducing the number of stores it has in North America. The news sent shares of New York-based Peloton Interactive Inc. soaring 20% Wednesday.

Cosmetics giant Sephora settles customer data privacy suit

SACRAMENTO, Calif. (AP) — Sephora Inc. has settled a lawsuit claiming the company sold customer information without proper notice in violation of the California’s landmark consumer privacy law. Attorney General Rob Bonta said Wednesday that the large cosmetics retailer agreed to pay $1.2 million and fix the problem. State officials say Sephora failed to tell customers that it was selling their personal information, failed to allow customers to opt out and didn’t fix the problem within 30 days as required. Sephora says it uses the information to improve their shopping experience and is already complying with state law. The settlement is the state’s first such enforcement action under the California Consumer Privacy Act.

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